BASILDON - CNH Industrial N.V. (NYSE: NYSE:CNHI) has announced through its subsidiary, CNH Industrial Capital Canada Ltd., the pricing of a private placement of notes totaling C$400 million. The notes, with a 4.80% interest rate and due March 25, 2027, have been priced at 99.876% of their aggregate principal amount. The offering is targeted at accredited investors across Canadian provinces and is expected to close on March 25, 2024, pending customary closing conditions.
The proceeds from the notes are slated for inclusion in the general funds of CNH Industrial Capital Canada Ltd. These funds will be utilized for working capital and general corporate purposes, which may encompass the acquisition of receivables or other assets in the regular course of business, and the repayment of maturing debt.
The notes will be senior unsecured obligations of the subsidiary and will pay interest semi-annually, starting from September 25, 2024. They will be backed by guarantees from CNH Industrial Capital LLC, CNH Industrial Capital America LLC, and New Holland Credit Company, LLC, all of which are indirect wholly owned subsidiaries of CNH Industrial N.V.
The securities in this private placement have not been qualified for public sale under Canadian securities laws and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws. Consequently, the notes may only be sold in the United States under an effective registration statement or an applicable exemption from registration requirements.
CNH Industrial Capital LLC, headquartered in Racine, Wisconsin, is the financing arm of CNH Industrial N.V., providing financial products for the end-use customers and dealers of CNH Industrial America LLC and CNH Industrial Canada Ltd., as well as supporting the sales of agricultural and construction equipment.
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